NetworkNewsBreaks – Nutriband Inc. (NASDAQ: NTRB

NetworkNewsBreaks – Nutriband Inc. (NASDAQ: NTRB) Closes $8.4M Private Placement

Nutriband (NASDAQ: NTRB, NTRBW), a company engaged in the development of prescription transdermal pharmaceutical products, today announced that it has closed an $8.4 million private placement to fund the commercial development program for its lead product, AVERSA(TM) Fentanyl. AVERSA Fentanyl has the potential to be the world’s first abuse-deterrent opioid patch designed to deter the abuse and misuse and reduce the risk of accidental exposure of transdermal fentanyl patches. Nutriband is working with its partner Kindeva Drug Delivery, a leading global contract development and manufacturing organization, to develop the commercial scale manufacturing process for the final product, which will incorporate Nutriband’s AVERSA(TM) abuse-deterrent transdermal technology into Kindeva’s FDA-approved transdermal fentanyl patch system. With this latest round of funding and based on progress made on the commercial transdermal manufacturing process scale-up to date, Nutriband is pushing towards several milestones as detailed in the announcement.

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